The Board of Directors of UAP Holdings PLC today announced that Peter Mwangi, the CEO of its Nairobi-publicly trading Group has resigned to pursue new interests, with effect from 14th April .
Mwangi, who has led the East African business for five years, will be succeeded from 15 April by Arthur Oginga who currently serves as the Chief Operating Officer for Old Mutual Africa and over the last two years has been the Acting Chief Financial Officer for UAP Old Mutual based in Nairobi.
In a statement, the Chairman of the Board, Dr JB Wanjui noted that the outgoing CEO is credited with the integration of the UAP Old Mutual Group including Faulu Microfinance Bank Limited and the entrenchment of a strong governance culture which has translated to improved performance of the underlying subsidiary companies.
Dr Wanjui remarked that, “Peter’s departure is a regrettable loss, but we wish him nothing but the very best as he embarks on the next phase of his career.”
Meanwhile, Dr Wanjui emphasized that, the incoming CEO Arthur Oginga is is envisaged to also provide the necessary stability during these turbulent times globally, to steer the business to the next level without any undue internal disruptions.
Dr Wanjui emphasized that, “Arthur is not only familiar with the East Africa business, but is also highly experienced and able to take the helm and enable a seamless transition”.